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Properties
11 Dupont Circle
Washington, DC
Overview
11 Dupont Circle offered Brickman an opportunity to acquire a 100% leased, meticulously maintained asset in an attractive location within the Washington DC Central Business District. The asset offered significant upside potential due to significant below market rents and staggered lease rollover. This desirable location, coupled with upside potential, a strong tenant roster and proximity to numerous amenities, created an exceptional investment opportunity in one of the nation's best performing markets.
Description
11 Dupont Circle is a 150,000ħSF office building located on the northeast side of Dupont Circle in Washington, DC. The building contains 8 levels of above grade office space and 12,000 SF of ground floor retail. A lower level floor is comprised of both office and storage space and a two-level, below-grade parking garage accommodates up to 145 automobiles.
Results
Brickman sold 11 Dupont Circle after making major renovations to lobby and exterior. During the 18 month hold, Brickman re-leased a majority of the vacancies at market rents which generated a 25% return.
Property Type
Office
Acquisition Date
6/05
Square Feet Acquired
150,000ħSF |